Apache Wants Coverage For $2.4M Lost In Bank Fraud

Law360, Houston (January 13, 2014, 3:21 PM ET) -- Apache Corp. filed a suit in Texas court Friday alleging Great American Insurance Co. owes it $2.4 million for losses it suffered when email and phone impersonators tricked the oil and gas company into rerouting vendor payments to a bogus bank account. 

Apache says GAIC is refusing to pay out under a $10 million computer fraud policy because the deception that resulted in the loss partially involved telephone conversations as opposed to transpiring entirely via computer. But because the fraudsters also used email to sell the...
To view the full article, register now.